Suite 804, 80 Richmond Street
Toronto, Ontario, M5H 2A4
T: 647. 344.3158
F: 647. 430. 5676
SEM : TSX Venture www.steugenemining.ca
ST. EUGENE ANNOUNCES RECEIPT OF INTERIM ORDER IN CONNECTION WITH ITS PROPOSED ARRANGEMENT WITH CLAUDE RESOURCES AND SETS NEW DATE FOR ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS Toronto, Ontario. December 13, 2011: St. Eugene Mining Corporation Limited (SEM:TSXV) ("St. Eugene" or the "Company") announces that it has received an interim order of the Supreme Court of British Columbia with respect to its previously announced plan of arrangement, pursuant to which Claude Resources Inc. ("Claude") will acquire all of the issued and outstanding common shares of St. Eugene (the "Arrangement").
On October 25, 2011, St. Eugene announced the Arrangement,
whereby each shareholder of St. Eugene will receive 0.0789 of
a common share of Claude and 0.25 common shares of a newly
formed company, Satori Resources Inc. ("Satori"), in respect
of each St. Eugene share held. St. Eugene will transfer to
Satori its interest in the Tartan Lake Gold Mine Project and
approximately $800,000 in cash. Assuming St. Eugene
shareholders approve the Arrangement, Satori will seek
approval to list its common shares for trading on the TSX
Venture Exchange.
Holders of purchase warrants of St. Eugene that are
outstanding at and subsequent to the completion of the
Arrangement will be entitled to receive (on otherwise the
same terms) the number of common shares of Claude and common
shares of Satori that such holder of warrants would have
acquired if such holder had exercised the warrants of St.
Eugene immediately prior to the completion of the
Arrangement.
As part of the interim order, St. Eugene was granted an
extension of time in which to hold its annual meeting of
shareholders from December 31, 2011 to January 31, 2012. The
annual general and special meeting of shareholders will be
held on Tuesday, January 17, 2012 at 4:00 p.m. Toronto Time
at the Toronto Board of Trade, where shareholders will be
asked to approve, among other items of business, the
Arrangement.
St. Eugene is a Toronto based exploration company that is
actively exploring for and developing gold properties, both
in Manitoba and Saskatchewan. The Company's three main assets
are the Tartan Lake Gold Mine Project in Manitoba (100%
interest), and, in Saskatchewan, the Amisk Gold Joint Venture
Project (35% interest St. Eugene - 65% interest Claude
Resources Inc.) and
the Amisk North Gold Project (100% interest). All three
assets are located in the prolific Flin
Flon Greenstone Belt.
Tartan Lake Gold Mine Project's independent NI 43-101
resource estimate (completed by MineTech International Ltd.
and released on November 8, 2010) resulted in an indicated
mineral resource of 1,000,000 tonnes at 4.0g/t Au (130,000
ounces) and an additional inferred mineral resource of
1,900,000 tonnes at 3.9g/t Au (240,000 ounces).
Amisk Gold Joint Venture Project's independent NI 43-101
resource estimate (completed by SRK Consulting (Canada) Inc.
and released on April 4, 2011) resulted in an indicated
mineral resource of 921,000 ounces at 0.95 g/t AuEq and an
additional inferred mineral resource of
645,000 ounces at 0.70 g/t AuEq. A total of 548,100 ounces is
attributed to St. Eugene for this project.
Jennifer Boyle, B.A., LL.B
President and Chief Executive Officer
647.344 3158 (office) 416.904.2714 (cell)
Jennifer@capexgroupinc.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATIONThis news release of St. Eugene contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause St. Eugene's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding St. Eugene's expectations regarding ownership, entitlements, drilling and exploration activities on properties in which St. Eugene has, or believes it has an interest. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from St. Eugene's expectations. St. Eugene undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
distribué par | Ce noodl a été diffusé par St. Eugene Mining Corp Ltd. et initialement mise en ligne sur le site http://www.steugenemining.ca. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-12-14 01:42:52 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
December 13, 2011 - St. Eugene Announces Receipt Of Interim Order In Connection With Its Proposed Arrangement With Claude Resources And Sets New Date For Annual General And Special Meeting Of Shareholders |